State Bets Big on Aqueduct “Racino,” Though Other Joints Fail

October 14, 2008

As the economy teeters, deep thinkers worry about the fate of New York’s big industries: apartment construction, advertising, sports, and so forth.

But at least there’s one area where things are going full speed ahead: gambling. The state just picked Delaware North Companies to build a “racino” at Aqueduct.

As laid out by the New York Daily News, once the racino’s done, you’ll be able to play the ponies and dump dollars into video slot machines in a “Vegas-style” environment at the old racetrack.

The state estimates its take from the racino at $1 million per day — which is a bold if not foolhardy prediction, as casinos in Connecticut and New Jersey are scaling back, laying off help and halting new construction. As the Connecticut Post headline put it, “State’s casinos aren’t recession-proof after all.” And we’re only just coming to the end of the state’s long tenure as “the only bookie in the world that lost money.”

Nonetheless some gaming titans are still high-rolling, and we guess New York feels it needs a seat at that table. The big boys appear to think that betting on most local businesses is foolish, but betting on suckers to be suckers is always a safe play.